Price T Rowe Associates Inc. MD Has $461,000 Stock Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Price T Rowe Associates Inc. MD decreased its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 16.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,948 shares of the company’s stock after selling 6,265 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Arcus Biosciences were worth $461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new stake in Arcus Biosciences during the fourth quarter worth $26,000. US Bancorp DE boosted its stake in Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after buying an additional 6,615 shares in the last quarter. PEAK6 LLC acquired a new stake in Arcus Biosciences during the fourth quarter worth $149,000. AXQ Capital LP acquired a new stake in Arcus Biosciences during the fourth quarter worth $160,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Arcus Biosciences during the fourth quarter worth $207,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Insider Buying and Selling at Arcus Biosciences

In other news, CEO Terry J. Rosen purchased 19,800 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.18 per share, with a total value of $201,564.00. Following the completion of the purchase, the chief executive officer now owns 2,554,160 shares of the company’s stock, valued at $26,001,348.80. This trade represents a 0.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Yasunori Kaneko purchased 20,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the purchase, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $285,704. This represents a 238.10% increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RCUS. Wells Fargo & Company cut their price objective on Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Bank of America cut their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Wedbush reissued an “outperform” rating and set a $33.00 price objective on shares of Arcus Biosciences in a report on Wednesday, May 7th. Finally, Morgan Stanley cut their price objective on Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.67.

Arcus Biosciences Trading Down 1.6%

Shares of Arcus Biosciences stock opened at $8.66 on Wednesday. The business has a fifty day simple moving average of $8.35 and a two-hundred day simple moving average of $12.28. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98. The company has a market capitalization of $916.96 million, a price-to-earnings ratio of -2.75 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.12). The firm had revenue of $28.00 million for the quarter, compared to the consensus estimate of $38.61 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The firm’s quarterly revenue was down 80.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. Research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.